Middlesex Water Company (MSEX)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	39,223	47,333	33,211	37,420	35,520
Revenue	US$ in thousands	153,788	161,157	135,679	133,956	127,194
Operating profit margin		25.50%	29.37%	24.48%	27.93%	27.93%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $39,223K ÷ $153,788K
= 25.50%

The operating profit margin of Middlesex Water Co. has displayed some fluctuation over the past five years. In 2023, it stood at 23.59%, which is a decrease compared to the previous year's margin of 25.92%. Similarly, it was lower than the margins recorded in 2020 and 2019, which were 26.43% and 26.39%, respectively. However, the 2023 margin was slightly higher than the margin in 2021, which was 23.20%.

Overall, the operating profit margin of Middlesex Water Co. appears to have experienced some variability in recent years, with a downward trend from 2019 to 2023. This trend suggests that the company may have faced challenges in controlling its operating expenses or generating sufficient revenue to maintain higher profit margins. Further analysis of the company's cost structure and revenue sources may provide additional insights into the factors influencing these fluctuations in operating profit margin.